Corindus downgraded to Hold at Stifel on less clear outlook. As previously reported, Stifel analyst Rick Wise downgraded Corindus to Hold from Buy, stating that it is now clear that the momentum that the company seemed to possess following its "impressive" Q4 report last year has not visibly sustained itself through the first half of 2018. Given the recent disappointing results, Wise has become less confident in his ability to model the company's near-to-medium-term sales trajectory, he tells investors. He thinks it prudent to move to the sidelines until there are more visible, tangible signs of positive commercial execution, especially given the company's need to raise additional capital. Wise cut his price target on Corindus shares to $1 from $3.

Corindus announced that Ryan Madder, an interventional cardiologist at Spectrum Health, has successfully completed a remote percutaneous coronary intervention, or PCI, in a porcine model using the CorPath GRX System from a location greater than 100 miles from the catheterization lab. Working from a Spectrum Health facility in Ludington, MI, Madder leveraged the CorPath GRX System to remotely manipulate interventional devices through the subject's coronary arteries while utilizing a telecommunications system to communicate with the bedside staff based in Grand Rapids, MI. Madder has been exploring the feasibility of remote PCI since 2016 when he completed and published the REMOTE-PCI study. In that study, Madder and colleagues completed multiple robotic stent procedures from an isolated room outside the procedure room. Procedural success was achieved in 19 of 20 patients. The global shortage of PCI-capable operators is significant and continues to be a growing problem. Remote PCI has the potential to enable physicians to conduct procedures from virtually any location, opening opportunities for more patients globally to receive the benefits of this lifesaving procedure.

Corindus announced that Aquilla Turk has joined the company as Chief Medical Officer, Neuroendovascular. Turk is a practicing physician at the Medical University of South Carolina where he serves as Director of the Stroke and Cerebrovascular Program, Director of the Neuroendovascular Program, and Professor with a joint appointment in the Departments of Radiology and Neurosurgery. Turk will serve alongside Aaron Grantham, Corindus' Cardiovascular CMO, to spearhead the company's clinical initiatives and expand robotic treatment into neurovascular procedures, specifically targeting acute ischemic stroke. In addition to Turk's appointment, Corindus has established a Physician Steering Committee dedicated to Neuroendovascular Procedures, which will be led by Turk.

Corindus Vascular Robotics announced that it has appointed Douglas Teany, currently the company's Senior Vice President of R&D and Operations, to COO, effective immediately. Teany brought eighteen years of experience to Corindus, driving operational excellence in the medical device and pharmaceutical industries. He previously served as Vice President in Boston Scientific's development organization, responsible for strategy and operations of its global clinical and preclinical research functions. Teany has served in his current role at Corindus since March 2016. Since joining, he accelerated the launch of Corindus' second generation CorPath GRX System, established a robust product and technology roadmap, and effectively scaled production and operational capabilities.

Corindus Vascular Robotics announced that it received Pharmaceutical and Medical Device Agency Approval for commercialization of its CorPath GRX System in Japan. Japan is one of the largest markets in the world for percutaneous coronary interventions with approximately 250,000 PCI procedures performed annually. Corindus is actively pursuing reimbursement for robotic PCI through the Japanese insurance system and plans a post-market study of CorPath GRX. In early 2017, Corindus announced a strategic relationship with Japan Medicalnext, a wholly-owned entity of MC Healthcare, to become the exclusive distributor of Corindus products in Japan, bringing robotic precision and control to the large and growing PCI segment of the Japanese healthcare market.